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291. Striking a Balance: Drug Labeling and the FDA

Author:
John E. Calfee
Publication Date:
02-2006
Content Type:
Policy Brief
Institution:
American Enterprise Institute for Public Policy Research
Abstract:
With the fourth Vioxx lawsuit currently under way, a fourth jury is in the thick of trying to determine whether Merck is indeed liable for any injuries that may or may not have arisen from the use of its blockbuster arthritis drug. The trials have highlighted bad tort bar science in all its dubious glory—from questionable pathology reports to seriously exaggerated claims about the dangers of Vioxx—but they also raise a deeper issue. Every drug presents patients and doctors with a trade-off between benefits and risks. But how can physicians and drug companies strike a balance in the age of a hyperactive litigation? Last week, the Food and Drug Administration (FDA) weighed in on that question when it published a long-awaited rule to simplify drug labels. Up to now, extensive, cringe-inducing lists of every imaginable side effect of a medicine were a drug company's best hope of immunizing itself from lawsuits down the road. The FDA wants to simplify those impenetrable reams of fine print by preempting state-court lawsuits claiming that an FDA-approved label failed to warn patients of a potential danger.
Topic:
Economics, Government, Health, and Human Welfare

292. A Plan to Replace the Welfare State

Author:
Charles Murray
Publication Date:
04-2006
Content Type:
Policy Brief
Institution:
American Enterprise Institute for Public Policy Research
Abstract:
This much is certain: the welfare state as we know it cannot survive. No serious student of entitlements thinks that we can let federal spending on Social Security, Medicare, and Medicaid rise from its current 9 percent of GDP to the 28 percent of GDP that it will consume in 2050 if past growth rates continue. The problems facing transfer programs for the poor are less dramatic but, in the long term, no less daunting; the falling value of a strong back and the rising value of brains will eventually create a class society making a mockery of America's ideals unless we come up with some- thing more creative than anything that the cur- rent welfare system has to offer. So major change is inevitable—and Congress seems utterly unwilling to face up to it. Witness the Social Security debate of last year, a case study in political timidity. Like it or not, we have several years to think before Congress can no longer postpone action. Let's use this time to start thinking outside the narrow proposals for benefit cuts and tax increases that will be Congress's path of least resistance.
Topic:
Civil Society, Economics, Health, and Human Welfare
Political Geography:
America

293. The Politics and Economics of Offshore Outsourcing

Author:
Phillip Swagel and N Gregory Mankiw
Publication Date:
12-2005
Content Type:
Working Paper
Institution:
American Enterprise Institute for Public Policy Research
Abstract:
During the presidential campaign of 2004, no economic issue generated more heat or shed less light than the debate over offshore outsourcing. This fact was probably apparent at the time to any economist who followed politics, but it was felt especially acutely by the authors of this paper. We were then working at the Council of Economic Advisers as, respectively, chairman and chief of staff. While the job of the CEA is to focus on the economics of current policy debates, the environment in which that job is performed is highly political, especially in an election year. To some extent, therefore, this paper is a report from inside the eye of a storm.
Topic:
International Relations, Economics, Globalization, and Political Economy

294. The Economic Costs of the War in Iraq

Author:
Katrina Kosec and Scott Wallsten
Publication Date:
09-2005
Content Type:
Working Paper
Institution:
American Enterprise Institute for Public Policy Research
Abstract:
Government policies are routinely subjected to rigorous cost analyses. Yet one of today's most controversial and expensive policies—the ongoing war in Iraq—has not been. The $212 billion allocated by the U.S. Treasury has been widely reported. But the real, direct economic costs include more than budgetary allocations. Other costs include lives lost, injuries, and lost civilian productivity of National Guard and Reserve troops mobilized for the conflict. The conflict, however, also has gene rated cost savings, especially in terms of resources no longer being used to enforce UN sanctions and people no longer being killed by Saddam Hussein's regime.
Topic:
Economics and War
Political Geography:
United States, Iraq, Middle East, and Palestine

295. Is Port Security Spending Making Us Safer?

Author:
Veronique de Rugy
Publication Date:
09-2005
Content Type:
Working Paper
Institution:
American Enterprise Institute for Public Policy Research
Abstract:
Congress should direct home land security funding to program s that provide the greatest return in the most crucial security missions. Since the number of possible attacks is effectively unlimited and the resources we can devote to the fight against terror are limited, spending should not occur without a careful cost-benefit analysis. Most importantly, it is perfectly reasonable to decide not to implement an antiterrorism measure, not because it has no benefit, but because the costs are too high compared to the potential benefits. Of course, program s that are not cost effective should never be implemented.
Topic:
Security, Defense Policy, and Economics
Political Geography:
United States

296. U.S.-India Relations: Report on AEI's 2003-04 Roundtable Discussions

Author:
Gautam Adhikari
Publication Date:
06-2005
Content Type:
Working Paper
Institution:
American Enterprise Institute for Public Policy Research
Abstract:
From October 2003 to October 2004, the American Enterprise Institute hosted a series of roundtable discussions and public events to examine expanding and deepening relations between the United States and India. This document is a summary of issues emerging from these discussions, and includes a select list of observations made at the roundtable sessions. Participants included scholars, journalists, diplomats, officials, foreign policy analysts, economists, business executives, entrepreneurs, and visiting Indian parliamentarians.
Topic:
International Relations
Political Geography:
United States, America, India, and Asia

297. What Does Homeland Security Spending Buy?

Author:
Veronique de Rugy
Publication Date:
04-2005
Content Type:
Working Paper
Institution:
American Enterprise Institute for Public Policy Research
Abstract:
International terrorism is probably the greatest security challenge America faces today. Policymakers have responded in two ways--going after terrorists abroad and improving security against terrorism at home by boosting homeland security funding. Regarding the latter, total spending directed to homeland security activities will be at least $50 billion for FY2006.Yet, the important question is whether America is getting the maximum level of benefit in exchange for this increase in spending. This paper performs a detailed review of homeland security's spending practices. First, it takes a look at the economics of homeland security spending and contrasts that with the politics of decision-making in this area. Second, it examines the state of homeland security spending. Finally, the paper analyzes how homeland security funds are being allocated and asks whether this is conducive to achieving improved security in the United States. This updated version also includes a review of federal spending to bolster port security.
Topic:
International Relations, Economics, and Terrorism
Political Geography:
United States and America

298. Attitudes about Social Security Reform

Author:
Karlyn H. Bowman
Publication Date:
02-2005
Content Type:
Working Paper
Institution:
American Enterprise Institute for Public Policy Research
Abstract:
What do Americans think about the health of the Social Security system and proposals to reform it? This AEI Public Opinion Study looks at how different pollsters have approached the issue. It provides historical data and includes trends on aspects of the debate from major pollsters.
Topic:
Security, Economics, and Government
Political Geography:
United States and America

299. Liberals in Exile

Author:
Michael S. Greve
Publication Date:
05-2005
Content Type:
Policy Brief
Institution:
American Enterprise Institute for Public Policy Research
Abstract:
Liberals who have long sought progressive constitutional interpretation now call for judicial restraint, hoping to protect liberal precedents by warning that conservative judges seek to restore a traditional understanding of the Constitution.
Topic:
International Relations, Foreign Policy, Democratization, and Economics

300. Science and Nonscience: The Limits of Scientific Research

Author:
Frederick M. Hess
Publication Date:
05-2005
Content Type:
Policy Brief
Institution:
American Enterprise Institute for Public Policy Research
Abstract:
Assessing many educational practices through scientific principles can be useful, but reformers must ensure that the push for scientific inquiry does not stifle reforms, such as promoting flexibility, competition, and accountability, that do not lend themselves as readily to rigorous scientific evaluation.
Topic:
International Relations, Foreign Policy, Democratization, and Economics